GAS Secures Contracts with Principal Buyer for Taiba and Qassim GAS Pipeline Projects at SAR 598 mln

GAS Arabian Services Company is pleased to announce the signing of contracts with the Saudi Power Procurement Company (Principal Buyer) for the Engineering, Procurement, and Construction of both the Taiba and Qassim GAS Pipelines.

The contract for the Taiba GAS Pipeline is valued at SAR 256,109,696, excluding VAT, with a duration of 22 months. This project’s financial impact will be reflected in the company’s financial statements for the years 2024 and 2025.

Additionally, GAS has finalized another contract with the Saudi Power Procurement Company for the Qassim GAS Pipeline project, valued at SAR 341,903,686, excluding VAT, and sharing the same 22-month timeline. The financial implications of this contract will also be evident in the financial statements for 2024 and 2025.